The case against aggressive government action on crypto
The financial regulators have recently taken an active interest in cryptocurrencies, more than a decade after their law enforcement counterparts did...
Opinion Pieces
What Silicon Valley Bank and Credit Suisse tell us about financial regulations
The downfall of Silicon Valley Bank and Credit Suisse has exposed failures in how we regulate the financial system. This column argues that the...
Lessons from the collapse of Silicon Valley Bank
The collapse of Silicon Valley Bank shows that banks still pose risks. Are they systemic? Jon Danielsson, Robert Macrae, and Nikola Tchouparov write...
The illusion of control: why the financial sector is more vulnerable than ever to a financial crisis
Reforms following the global financial crisis of 2008 were supposed to create a less risky financial world. But has a one-size-fits all approach to...
Cultural Stereotypes of Multinational Banks
Financial markets, even more than other markets, run on trust. This column uses hand-collected data on banks’ investments in European sovereign debt...
The beginning of the end for cryptocurrencies
Cryptocurrencies have enjoyed a remarkable run from obscurity to a trillion dollar valuation in just over a decade. This column argues, however, that...
The illusion of control
Global macroprudential and microprudential regulatory changes since 2008 have been designed to make a repeat of a systemic crisis much less likely...
Choosing a numerical programming language for economic research: Julia, MATLAB, Python or R
Economic researchers can choose between four general purpose programming languages – Julia, MATLAB, Python, and R. This column evaluates the four...
How global risk perceptions affect economic growth
The relationship between financial risk and economic growth is complex. This column finds that perceptions of high risk unambiguously harm growth...
Why we don’t write more papers on political finance
Despite the commonly held views of economists on regulatory capture, our profession has been much more hesitant in recognising similar conflicts of...
Rebooting UK financial regulation for the post-Brexit world
Recognising the critical role that financial markets will play in the success of the UK’s post-Brexit economy, the Treasury is now engaged in a review...
Epidemic exposure, fintech adoption, and the digital divide
Although epidemics are frequently cited as inducing changes in economic behaviour and accelerating technological and behavioural trends, there may be...
CEPS/ECMI Policy Brief – Why finalizing Basel III is good for the European banking sector
Basel III is an internationally agreed set of measures to strengthen the regulation, supervision and risk management of banks. Finalising the 2017...
SUERF Policy Brief – The way forward for EU-wide stress tests
EU-wide stress tests have constituted a very useful supervisory tool for increasing the resilience of the EU banking sector. This policy brief claims...
Moral hazard, the fear of the markets, and how central banks responded to Covid-19
While the direct economic consequences of Covid-19 have been significant, the impact on the financial markets has been more nuanced. This column uses...
Vaccine challenges
Last week brought welcome news about the apparent effectiveness of a potential Covid-19 vaccine. While the challenges of manufacturing and...
